Fortunately we have very strict regulations in the Netherlands when it comes to borrowing money. There are also various watchdogs and organizations (such as the CCIM) that regularly screen and monitor banks and lenders. But you still have to pay attention to what kind of provider you work with.
There are still loan providers active that deliberately saddle customers with extra costs that they cannot charge. On this page we try to give you an insight into the matters that you need to pay special attention to before you choose a particular lender. First, always check whether the bank or lender with whom you want to do business has a valid license from the Netherlands Authority for the Financial Markets; the CCIM.
Permit from the CCIM
Before you go to work with a provider, check that you have an CCIM license (a valid one!). Because no organization can provide loans without such an CCIM license. In most cases, only a license from the DNB is sufficient. Call the CCIM immediately if you come across a loan provider that does not have the necessary permits! This also prevents other people from getting into trouble.
Are you being approached yourself? Then watch out!
The reason why we warn you about telephone sellers of loans is because there are dangers in that. Do not do business with parties like this, because you will almost always be disappointed. The seller indicates that you can borrow easily and quickly through them and also at extremely low interest rates. You can also sometimes borrow more than from other banks and lenders. Also watch out for loan advisors who approach you aggressively and want to visit your home. In short: Look for a reliable party yourself and never get approached! Are you being approached? Then sign up for the CCIM in any case.
Where previously lenders were allowed to charge brokerage services between customers and banks, they are now prohibited by law. Do you come across a mediator who still asks mediation costs? Then report this to the CCIM (Financial Markets Authority). Every broker receives a standard fee from the bank that they mediate.
You have to distrust small organizations
Of course, a small credit bureau, bank or unknown broker is not always unsafe to do business with. But have contact with companies of this kind with a healthy distrust. Check whether they have valid permits and try to obtain information about them online. A reliable bank or lender is transparent in everything. They have a physical office and can be reached if you have any questions. Never take out loans with unknown agencies about which you can hardly find any information.
With a ‘fast’ small loan you always pay high insurance costs
High costs with a small loan
Well known and notorious are the small loans that you can take out for a short period. In the first instance it seems that you only have to pay interest. However, this is not the case, you are required to take out an expensive insurance policy where the costs can rise enormously. I also wrote about this before, it was about ‘minilening what are the costs’. With examples, tips and video you can clearly see why this is such an expensive way of borrowing money. If you are planning to do this, I can recommend that you read this article carefully.
Never respond to emails
There has been much to do in recent years. Consumers are approached by e-mail to accept an offer. Every time it appears that there are still people who fall for it. do you get an email from a company or someone you don’t know? Discard this immediately. Pay attention especially that there are also links in these emails where you are invited to click on and open a website. Never do this, even if you know the company and think you can trust it. For example, it may happen that it says ‘Rababo login page’, but this does not mean that when you click on this link you actually go to the Rabobank website. If you go over the link with your mouse (laptop or PC) without clicking on it, you can already see where you will be led.
But it is also very sophisticated
Suppose you move your mouse over such a link, then you can see’rabobank.inlogbankzaken.nl ‘. Now comes the trick, this website is not at all from Rabobank, but from loginbankzaken.nl. This has created a subdomain where it looks like you are going to the bank’s website. A real link from the bank would look like this: ‘loginbankzaken.rabobank.nl’. This website is therefore from the bank. But you see how subtle the difference is. The image below shows how you can be fooled.
Providers from abroad
Also a well-known phenomenon that you often encounter on second-hand websites. In poor Dutch, golden mountains are promised and you don’t have to worry about interest and costs. I actually have no idea what happens when you accept such an advertisement. But believe me, it can never be much good. A good example of this is the image below. I quickly came across this advertisement during a search. But you also come across many advertisements that offer credit in Germany, I actually have no idea what that is.